Statement from LIA Chief Economist on Janet Yellen

By: Dr. John Rizzo

Statement from LIA Chief Economist on Janet Yellen

John A. Rizzo,Chief Economist, Long Island Association: "Citing the continued slack in the labor market, sluggish wages and long term joblessness, Janet Yellen emphasized today that the Federal Reserve needs to do more to help boost economic growth and employment. The strong impression is that the Fed will remain accommodative, holding interest rates at very low levels for the long term. Chairwoman Yellen's clear commitment to promote jobs growth was well received by investors, as the stock market rose substantially today in light of her remarks."